ESPA FRANCE : revenue, balance sheet and financial ratios

In 2024, ESPA FRANCE achieves revenue of 5.7 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.7%. Vs 2023: +6%. After deducting consumption (4.2 M€), gross margin stands at 1.5 M€, i.e. a rate of 26%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 25 k€, representing 0.4% of revenue. Warning negative scissor effect: despite revenue change (+6%), EBITDA varies by -87%, reducing margin by 3.2 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 175 k€, i.e. 3.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 87%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 1.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 673.47. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 91.0x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 23 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 16 days. The company must finance 7 days of gap between collections and payments. Inventory turnover is 108 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 134 days of revenue, i.e. 2.1 M€ to permanently finance. Over 2016-2024, WCR increased by +71%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (32 transactions). This range of 266 119€ to 693 533€ is provided for information purposes only and requires in-depth analysis to be confirmed.